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Accounting Principles: Consistency

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    FAISAL A.
    YE
    FAISAL A.

    What are the advantages of consistency in accounting ??

    Janet S.
    GB
    Janet S.

    The account reports should be consistent on the same basis,from one period to the next. Every entry,changes must be shown from one period to another as part of the accounting principles.

    Gabriel O.
    ML
    Gabriel O.

    consistency, requires that a standered accounting principles be applies from a set period to the next period in the company financial statement, a diviation will be a breach of the accounting standerd.

    Wendy C.
    AU
    Wendy C.

    Consistency Accounting reports from one period to the next should be prepared on the same basis. This allows for consistency in the accounting process.

    Samuel F.
    ZA
    Samuel F.

    What is the consistency principle?

    Harrison A.
    AT
    Harrison A.

    Consistency principle implies that the same accounting methods should be applied from period to period and all changes to more acceptable methods should be well explained and justified .Deviations in measured outcomes from period to period should be the result of deviations in performance not changes in method.

    Zachary B.
    US
    Zachary B.

    What are consistency accounting principles?

    Caroline Monica M.
    MW
    Caroline Monica M.

    Consistency is required in accounting because you are assured of the out come of the other year's report and when you want to compare you do it with confidence.

    Diamond T.
    US
    Diamond T.

    The account reports should be consistent on the same basis,from one period to the next. Every entry,changes must be shown from one period to another as part of the accounting principles.

    Douglas R.
    US
    Douglas R.

    Same methods should be used for proper reporting to take place.

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